Boban John
By Caitlin Fono, Research Analyst, CoreLogic Australia
There are currently 2,343 capital city homes scheduled for auction this week, up 49.0% on last week when 1,572 auctions were held, but -17.3% lower than the same week last year (2,834).
In Melbourne, 984 homes are currently scheduled for auction this week, double the volume seen last week (486) when auction numbers dropped due to the Labour Day long weekend. While up 102.5% week-on-week, the number of homes taken to auction across the city over the same week last year was much higher (1,483).
There are 957 auctions scheduled in Sydney this week, up from 842 last week and 873 over the same week last year.
Across the smaller capitals, Brisbane is expected to be the busiest auction market with 183 homes set to go under the hammer, up substantially week-on-week (71) as many auctions were rescheduled due to the impact of ex-Tropical Cyclone Alfred. Adelaide is expected to see around 130 homes taken to auction, up from 99 last week, while Canberra is set to host 72 auctions this week, up from 62 last week. There are 15 auctions scheduled in Perth, up from 11 last week, while there are two auctions scheduled in Tasmania this week, compared to just one last week.
There are currently around 2,130 homes scheduled to go under the hammer across the combined capitals next week.
Summary of last week’s results
There were 1,572 homes taken to auction across the combined capital cities last week, down from 2,749 over the previous week and 1,745 over the same week last year. The drop is volume last week was largely due to the Labour Day long weekend in Victoria.
The combined capital city clearance rate came in at 62.3% last week, down from 62.6% over the previous week and 68.0% this time last year.
Across Melbourne, 486 homes were taken to auction last week. The previous week saw 1,381 homes taken to auction, while this time last year, 496 homes went under the hammer across the city. Melbourne’s clearance rate came in at 60.5% last week, down from 62.8% over the previous week and 61.9% this time last year.
There were 842 homes taken to auction across Sydney last week, compared to 955 over the previous week and 898 this time last year. Sydney’s final clearance rate came in at 64.0% last week, down slightly week-on-week (64.5%). This time last year, 71.1% of homes taken to auction across Sydney were successful.
Adelaide (99) was the busiest auction market across the smaller capitals last week, followed by Brisbane (71), Canberra (62) and Perth (11). Canberra recorded the highest clearance rate at 69.4%, followed by Adelaide (60.6%), Perth (54.5%) and Brisbane (53.5%). There was one auction in Tasmania last week, which was unsuccessful.
